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Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces,
reported sales for the second quarter of 2009 of $95 million, down 25.3% from the prior year period. Profit was $1.8 million,
compared to a loss of $29.7 million in the second quarter 2008.
Sales for the six month period ended June 30, 2009,
were $194.4 million, a decrease of 23.2% from the prior year period. The company reported a net loss of $4.1 million in the
first six months of 2009, compared to a loss of $25.3 million in the first six months of 2008.
"We are beginning
to see positive results from the cost reduction initiatives we implemented over the last several months," said Thomas
Neri, president and CEO. "Beyond our cost initiatives, we are working hard ...
Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces,
reported sales for the second quarter of 2009 of $95 million, down 25.3% from the prior year period. Profit was $1.8 million,
compared to a loss of $29.7 million in the second quarter 2008.
Sales for the six month period ended June 30, 2009,
were $194.4 million, a decrease of 23.2% from the prior year period. The company reported a net loss of $4.1 million in the
first six months of 2009, compared to a loss of $25.3 million in the first six months of 2008.
"We are beginning
to see positive results from the cost reduction initiatives we implemented over the last several months," said Thomas
Neri, president and CEO. "Beyond our cost initiatives, we are working hard to implement measures focused on improving
customer relationships and service. Although these changes will take several more quarters to fully implement, we believe
they will position us to compete more effectively and will be important to driving our next stage of growth."
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